Work

Toward an Un trepreneurial Economy? The Entrepreneurship Industry and the Rise of the Veblenian Entrepreneur

Year: 2022

Type: book-chapter

Abstract: Why is the quality of innovation-driven entrepreneurship seemingly declining? We argue the growing Entrepreneurship Industry and the way it has transformed entrepreneurship as an activity are important, under-appreciated explanations. By leveraging the Ideology of Entrepreneurialism to mass-produce and mass-market products, the Entrepreneurship Industry has made possible what we term Veblenian Entrepreneurship. This is entrepreneurship pursued primarily as a form of conspicuous consumption, and it is fundamentally different from the innovation-driven entrepreneurship that it emulates and superficially resembles. Aside from lowering average entrepreneurial quality, Veblenian Entrepreneurship has a range of (short-run) positive and (medium- and long-run) negative effects for both individuals and society at large. We argue that the rise of the Veblenian Entrepreneur might contribute to creating an increasingly Untrepreneurial Economy. An Untrepreneurial Economy appears innovation-driven and dynamic but is actually rife with inefficiencies and unable to generate economically meaningful growth through innovation.

Source: Emerald Group Publishing Limited eBooks

DOI: 10.1108/s0733-558x20220000082002

Authors: Rasmus Koss Hartmann, Andre Spicer, Anders Dahl Krabbe

Institutions: Copenhagen Business School, City, University of London, King's College London, Stanford University

Language: English

Topic: Entrepreneurship Studies and Influences

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

OpenAlex ID: W4294577703